Mumbai: Reliance Venture Asset Management has completed the Series C round of venture funding in Tessolve Services, a semiconductor test and product engineering company. The association with Reliance Venture and the latest round of funding is aimed at taking the company into its next phase of expansion with a focus on both organic and strategic inorganic growth.

Speaking on the investment, Harshal J. Shah, CEO, Reliance Venture said, "We drive ourselves to remain on the cutting edge of upcoming business models. Tessolve’s strong engineering capabilities and its value proposition to customers has made it an industry pace-setter and we are proud to be their partners in success."

Tessolve provide support and manage different functions from Design for testability (DFT) through package design, test development, characterization and optimized production to lower cost throughout the life of the product.

"Since inception the company has received tremendous support from the VC ecosystem at critical junctures during our growth. We are glad to have the support of Reliance Venture Asset Management" said, P. Raja Manickam, Founder, Tessolve Services.

While Reliance Venture will lead this round of investment, the other co-investors for the deal include Tessolve’s existing investors; JAFCO Asia, Qualcomm Ventures and Applied Ventures.